Starboard Value, an activist investor, has made a bold move to dissolve News Corp’s dual-class share structure, which has long been a source of control for the Murdoch family over the Wall Street Journal parent company. This challenge comes in the form of a non-binding shareholder resolution, indicating the seriousness of Starboard’s intentions. With Rupert
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The Green Bay Packers have a one-of-a-kind ownership structure that sets them apart from all other teams in the National Football League. As the 12th most valuable NFL franchise, with a valuation of $6.3 billion, the Packers are the only team that is structured as a publicly owned entity. This ownership model allows for a
As we delve into CNBC’s inaugural Official NFL Team Valuations, it becomes evident that numerous factors contribute to a team’s overall franchise value. Michael Ozanian, CNBC’s senior sports reporter, meticulously calculates each team’s worth based on revenue, profit, and debt. In examining the 32 clubs on the list, it is apparent that the average NFL
Steph Curry, a four-time NBA Champion and 10-time NBA All-Star, is already planning for life after basketball. In a recent interview with CNBC, Curry discussed his future beyond the basketball court. At 36 years old, Curry has a media company, Unanimous Media, and a youth golf tour called Underrated, in addition to various other business
The NFL season is well underway, and with it comes an expectation of record-breaking betting activities. Projections from the American Gaming Association suggest that U.S. adults will wager a staggering $35 billion throughout this NFL season. This represents a significant increase of over 30% from the $26.7 billion wagered during the previous season. Several states,
Ulta Beauty saw its shares drop 7% in extended trading after the company reported falling short of second-quarter expectations and revised its full-year guidance due to a decline in same-store sales. The decline was a surprise to many, marking the company’s first earnings per share miss since May 2020 and its first revenue miss since
The year 2024 has witnessed a notable uptick in restaurant bankruptcy filings, underscoring a broader trend of increasing corporate bankruptcies spanning multiple sectors. Notably, a minimum of 10 restaurant chains, excluding multi-unit franchisees, have initiated bankruptcy proceedings. Among these, the month of August alone saw three Chapter 11 filings from prominent eateries, indicating the severity
In recent years, cannabis consumption has taken a new turn in New York City. Fifth Avenue, an iconic stretch known for luxury retailers, now caters not only to high-end shoppers looking for designer goods but also to those seeking premium marijuana products. With the legalization of adult-use marijuana in New York state three and a
In a surprising turn of events, airlines that were once eagerly awaiting new aircraft are now pulling back on their spending due to financial constraints. Cash-strapped budget airlines, facing challenges in achieving steady profitability, are postponing billions of dollars worth of new aircraft deliveries. This shift in approach has been triggered by the need to
The Food and Drug Administration recently authorized Novavax’s updated protein-based Covid vaccine for emergency use in individuals ages 12 and older. This decision opens the door for Novavax’s vaccine to rival those produced by Pfizer and Moderna in the upcoming fall and winter seasons. Novavax’s vaccine specifically targets the highly contagious omicron subvariant JN.1, which